(1) Non-GAAP adjustment to exclude non-cash amortization of acquired intangible assets.
(2) Non-GAAP adjustment to exclude the effect of deferred taxes and other non-cash tax provisions.
CIMATRON LIMITED CONSOLIDATED BALANCE SHEETS (US Dollars in thousands) March 31, December 31, 2012 2011 ASSETS CURRENT ASSETS: Total cash, cash equivalents and short-term investments $ 14,904 $ 11,787 Trade receivables 6,102 5,840 Other current assets 1,836 1,452 Total current assets 22,842 19,079 Deposits with insurance companies and severance pay fund 3,187 3,069 Net property and equipment 944 1,009 Total other assets 11,232 11,365 Total assets $ 38,205 $ 34,522 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Short-term bank credit $ 730 $ 87 Trade payables 1,226 1,072 Accrued expenses and other liabilities 7,799 9,048 Deferred revenues 5,270 2,403 Total current liabilities 15,025 12,610 LONG-TERM LIABILITIES: Accrued severance pay 4,310 4,135 Long-term loan 6 6 Deferred tax liability 548 639 Total long-term liabilities 4,864 4,780 Total shareholders' equity 18,316 17,132 Total liabilities and shareholders' equity $ 38,205 $ 34,522
CIMATRON LIMITED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (US Dollars in thousands) Non- Additional Accumulated Retained Compre- Total controlling Share paid-in other earnings Treasury hensive share- Interest capital capital comprehensive (accumulated Stock income holders' income (loss) deficit) (loss) equity Balance at December 31, 2011 $ (131) $ 313 $ 18,999 $ (446) $ (851) $ (752) $ 17,132 Changes during the three months ended March 31, 2012: Net income 12 831 843 843 Exercise of share options - 14 14 Unrealized loss on derivative instruments 215 215 215 Other 112 112 112 Foreign currency translation adjustment - - - Total comprehensive income 1,170 Balance at March 31, 2012 $ (119) $ 313 $ 19,013 $ (119) $ (20) $ (752) $ 18,316